Common use of Optional Acceleration of Maturity Clause in Contracts

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to paragraph (e) of Section 7.01) shall have occurred and be continuing, then, and in any such event, the Administrative Agent (i) shall at the request, or may with the consent, of the Majority Lenders, by notice to the Borrower, declare the obligation of each Lender and each Issuing Lender to make extensions of credit hereunder, including making Advances and issuing, increasing or extending Letters of Credit, to be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the Majority Lenders, by notice to the Borrower, declare all principal, interest, fees, reimbursements, indemnifications, and all other amounts payable under this Agreement, the Notes, and the other Loan Documents to be forthwith due and payable, whereupon all such amounts shall become and be forthwith due and payable in full, without notice of intent to demand, demand, presentment for payment, notice of nonpayment, protest, notice of protest, grace, notice of dishonor, notice of intent to accelerate, notice of acceleration, and all other notices, all of which are hereby expressly waived by the Borrower; the Borrower shall, on demand of the Administrative Agent at the request or with the consent of the Majority Lenders, deposit with the Administrative Agent into the Cash Collateral Account an amount of cash equal to the Letter of Credit Exposure as security for the Obligations; and the Administrative Agent shall at the request of, or may with the consent of, the Majority Lenders proceed to enforce its rights and remedies under the Security Instruments, the Guaranties, and any other Loan Document for the ratable benefit of itself, the Issuing Lenders and the Lenders by appropriate proceedings.

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to paragraph Section 7.01(g) or (e) of Section 7.01h)) shall have occurred and be continuing, then, and in any such event, : (a) the Administrative Agent (i) shall at the request, or may may, with the consent, of the Majority Required Revolving Lenders, by notice to the Parent Borrower, declare the Revolving Commitments and the obligation of each Revolving Lender and each the Issuing Lender Banks to make extensions of credit hereunder, including making Advances Loans and issuing, increasing or extending issuing Letters of Credit, to be terminated, whereupon the same shall forthwith terminate, and and/or (ii) shall at the request, or may may, with the consent, of the Majority Required Lenders, by notice to the Parent Borrower, declare all principal, interest, fees, reimbursements, indemnifications, and all other amounts payable under this Agreement, the Notes, Agreement and the other Loan Documents to be forthwith due and payable, whereupon all such amounts shall become and be forthwith due and payable in full, without notice of intent to demand, demand, presentment for payment, notice of nonpayment, protest, notice of protest, grace, notice of dishonor, notice of intent to accelerate, notice of acceleration, and all other notices, all of which are hereby expressly waived by the BorrowerBorrowers; (b) the Borrower Borrowers shall, on demand of the any Administrative Agent at the request or with the consent of the Majority Required Revolving Lenders, deposit with Cash Collateralize the Administrative Agent into the Cash Collateral Account an amount of cash equal to the Letter Letters of Credit Exposure as security for the Obligationsin accordance with Section 2.21(k); and (c) the Administrative Agent Collateral Agents shall at the request of, or may with the consent of, the Majority Required Lenders proceed to enforce its their respective rights and remedies under the Security InstrumentsDocuments, the Guarantiesthis Agreement, and any other Loan Document for the ratable benefit of itself, the Issuing Lenders and the Lenders by appropriate proceedings.. SECTION 7.03

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to paragraph (ef) of Section 7.018.01 with respect to the Borrower or any Guarantor) shall have occurred and be continuing, then, and in any such event, (a) the Administrative Agent (i) shall at the request, or may with the consent, of the Majority Required Lenders, by notice to the Borrower, declare the Commitments and any other obligation of each Lender and each Issuing Lender to make extensions of credit hereunder, including making Advances and issuing, increasing or extending Letters of Credit, an Advance to be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the Majority Required Lenders, by notice to the Borrower, declare all principal, interest, fees, reimbursements, indemnifications, and all other amounts payable under this Agreement, the Notes, and the other Loan Documents Obligations to be forthwith due and payable, whereupon all such amounts Obligations shall become and be forthwith due and payable in full, without presentment, demand, protest or further notice of any kind (including, without limitation, any notice of intent to demand, demand, presentment for payment, notice of nonpayment, protest, notice of protest, grace, notice of dishonor, notice of intent to accelerate, accelerate or notice of acceleration, and all other notices), all of which are hereby expressly waived by the Borrower; the Borrower shall, on demand of the Administrative Agent at the request or with the consent of the Majority Lenders, deposit with the Administrative Agent into the Cash Collateral Account an amount of cash equal to the Letter of Credit Exposure as security for the Obligations; and (b) the Administrative Agent shall at the request of, or may with the consent of, the Majority Required Lenders proceed to enforce its rights and remedies under the Security Instruments, the Guaranties, and any other Loan Document Credit Documents for the ratable benefit of itself, the Issuing Lenders and the Lenders by appropriate proceedings.. Section 8.03

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to paragraph (e) of Section 7.01) shall have occurred and be continuing, then, and in any such event, the Administrative Agent (i) shall at the request, or may with the consent, of the Majority Lenders, by notice to the Borrower, declare the obligation of each Lender and each Issuing Lender to make extensions of credit hereunder, including making Advances and issuing, increasing or extending Letters of CreditAdvances, to be terminated, whereupon the same shall forthwith terminate, and (ii) shall at the request, or may with the consent, of the Majority Lenders, by notice to the Borrower, declare all principal, interest, fees, reimbursements, indemnifications, and all other amounts payable under this Agreement, the Notes, and the other Loan Documents to be forthwith due and payable, whereupon all such amounts shall become and be forthwith due and payable in full, without notice of intent to demand, demand, presentment for payment, notice of nonpayment, protest, notice of protest, grace, notice of dishonor, notice of intent to accelerate, notice of acceleration, and all other notices, all of which are hereby expressly waived by the Borrower; the Borrower shall, on demand of the Administrative Agent at the request or with the consent of the Majority Lenders, deposit with the Administrative Agent into the Cash Collateral Account an amount of cash equal to the Letter of Credit Exposure as security for the Obligations; and the Administrative Agent shall at the request of, or may with the consent of, the Majority Lenders proceed to enforce its rights and remedies under the Security Instruments, the Guaranties, and any other Loan Document for the ratable benefit of itself, the Issuing Lenders itself and the Lenders by appropriate proceedings.

Optional Acceleration of Maturity. If any Event of Default (other than an Event of Default pursuant to paragraph Section 7.01(g) or (e) of Section 7.01h)) shall have occurred and be continuing, then, and in any such event, : (a) the Administrative Agent (i) shall at the request, or may may, with the consent, of the Majority Required Revolving Lenders, by notice to the Parent Borrower, declare the Revolving Commitments and the obligation of each Revolving Lender and each the Issuing Lender Banks to make extensions of credit hereunder, including making Advances Loans and issuing, increasing or extending issuing Letters of Credit, to be terminated, whereupon the same shall forthwith terminate, and and/or (ii) shall at the request, or may may, with the consent, of the Majority Required Lenders, by notice to the Parent Borrower, declare all principal, interest, fees, reimbursements, indemnifications, and all other amounts payable under this Agreement, the Notes, Agreement and the other Loan Documents to be forthwith due and payable, whereupon all such amounts shall become and be forthwith due and payable in full, without notice of intent to demand, demand, presentment for payment, notice of nonpayment, protest, notice of protest, grace, notice of dishonor, notice of intent to accelerate, notice of acceleration, and all other notices, all of which are hereby expressly waived by the Borrower; the Borrower shall, on demand of the Administrative Agent at the request or with the consent of the Majority Lenders, deposit with the Administrative Agent into the Cash Collateral Account an amount of cash equal to the Letter of Credit Exposure as security for the Obligations; and the Administrative Agent shall at the request of, or may with the consent of, the Majority Lenders proceed to enforce its rights and remedies under the Security Instruments, the Guaranties, and any other Loan Document for the ratable benefit of itself, the Issuing Lenders and the Lenders by appropriate proceedings.Borrowers;